How much should I offer on a house in 2026?

After weeks or months of searching, you've finally found your dream home. So how much should you offer? 

Most buyers start 5% to 10% below the asking price, but the asking price isn't always the right price, and offering above or below could be the smarter move. 

The right figure depends on the market, the property's condition, and your own circumstances. The key is to research what similar homes actually sold for (not just their asking prices), set your maximum budget before you start, and be prepared to walk away. Most accepted offers end up falling within 10% of the asking price.

Let's look at the factors that shape the right number, for you and the seller.

Typical offers range from:

• Above asking price: Common in competitive areas or when multiple buyers are interested.
• At asking price: Standard in balanced markets for well-priced properties.
• 5-10% below asking: Reasonable starting point for most negotiations.
• 10-15% below asking: Justified for overpriced properties or those needing work.
• 15%+ below asking: Considered "cheeky" offers with higher rejection risk.

There is never a ‘right’ option or a go-to percentage above or below an asking price. Every property purchase is unique, meaning that every offer will be. You’ll need to consider your situation, the market conditions, the property, and your budget to come to an offer that feels reasonable.

Understanding what influences property value and negotiation power helps you pitch your offer at the right level.

Property condition

Properties needing significant work can justify lower offers – factor in repair costs when working out your bid. A house requiring a new roof, rewiring, or structural work could warrant an offer below asking price depending on the expenses involved.

Whereas you might not have as much wiggle-room on price for a 'move-in' ready home.

Time on the market

Properties listed for over 3 months often indicate seller motivation or overpricing, potentially giving you more negotiation power. Whereas recently listed homes in good condition typically command close to the asking price.

Market conditions

Market conditions are crucial - in a hot seller's market with multiple interested buyers, you might consider offering the asking price or above to compete. In slower buyer's markets, sellers are more likely to negotiate lower offers.

Check recent sales in the area

Research what similar properties actually sold for (not just their asking prices) in the past 3-6 months. If comparable homes sold for £20,000 less than your target property's asking price, you have solid justification for a lower offer.

Keep your budget in mind

It's easy to get wrapped up in the excitement of buying a new home, but stick to your budget. Even if you've found the perfect home, it should make sense financially. Remember that there are other costs to buying a home like conveyancing, getting a survey, and mortgage fees that you'll need to consider.

Your position as a buyer

Chain-free buyers, cash purchasers, or those with mortgage approval in principle can often negotiate more aggressively. Many sellers value certainty, so if you can offer a quick, guaranteed sale, they may accept a lower price over higher offers with more risk attached.

Seller’s circumstances

Equally important is what situation the seller is in. Look for clues about seller motivation - empty properties, job relocations, or properties marketed as "chain-free" often indicate sellers who need to move quickly and may accept lower offers for certainty.

There's no universal answer - it depends on assessing the market, the seller's situation, and your own circumstances. Most accepted offers fall within 10% of the asking price.

Use the factors outlined above to inform your decision. Property condition, time on market, local sales data, and both your position and the seller's circumstances should all influence your offer amount. Don't forget to ask detailed questions during viewings to better understand the property's value and the seller's motivation.

If there's significant interest in the property, you genuinely love it, and it fits comfortably within your budget, you'll likely need to offer close to the full asking price to secure it. In competitive situations, standing out often means minimizing price negotiations and focusing on other advantages like your buying position or timeline.

We get it, you want to get the best price possible on a new home. Although making a "cheeky offer" (15% or more below asking price) could damage relationships and negotiations if pitched incorrectly, it can succeed in specific circumstances.

When cheeky offers might work:

Properties struggling to sell - Houses listed for 4+ months or with recent price reductions signal motivated sellers who may be more realistic about value.

Motivated sellers - Look for signs like job relocations, divorce sales, or sellers who've already bought their next home. These situations create urgency.

Properties needing work - Houses requiring major renovations or structural repairs justify aggressive pricing when you factor in realistic renovation costs.

When you offer certainty - Cash buyers or chain-free purchasers can leverage their position. Sellers often prefer guaranteed sales over higher risk offers.

Flexible timing - Offering exchange and completion dates that suit the seller's needs can make lower offers more attractive.

The risks - Low offers can offend sellers and kill negotiations entirely. You might miss out if reasonable offers come in while you're playing hardball.

Only attempt cheeky offers if you're prepared to walk away and have solid justification for the reduced price.

Once you've made your initial house offer, the seller might counteroffer. Effective negotiation can help you secure the property at the right price.

1. Start with a reasonable opening offer

Reasonable will mean different things to different situations. Some situations might warrant an offer 10% below asking while others might be the exact asking price. Unless you're offering your maximum, you can go for something that's lower but reasonable for the situation – giving you room to negotiate while showing you're a serious buyer.

2. Make strategic counteroffers

If you enter negotiations, increase your offers gradually. Each counteroffer should move closer to a fair middle ground for both parties. Avoid jumping straight to your maximum – a bit of back-and-forth is common in property negotiation.

3. Be firm on major issues, flexible elsewhere

Stand your ground on significant price differences or essential repairs, but show flexibility on completion dates, included fixtures, or minor terms. This demonstrates you're reasonable and helps build rapport with sellers.

4. Always stay polite and calm

This isn't the time to get irritated, keep your cool and remain polite throughout negotiations. You don't want to come across as hard to work with or put the sellers off you as a buyer before they even consider accepting your offer.

5. Communicate your advantages

Make sure the seller knows your strengths as a buyer - whether you're chain-free, have a mortgage in principle, or can work to their timeline. These advantages help negotiations and can justify lower offers.

Find out what happens after an offer is accepted.

6. Know your walk-away point

Set your absolute maximum before negotiations even begin and stick to it. If talks aren't progressing and you're reaching your limit, be prepared to walk away to avoid overpaying.